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Friday 23 July 1999 |
The Council today confirmed its 1999/2000 Plan, with the aim of moving the Council ahead while limiting rate increases.
The Plan was the subject of consultation with residents generally expressing satisfaction with services and supporting the proposals in the Plan.
All increases on the draft plan were found from savings and nearly all requests for additional grants were declined.
The $81 million earned from Council assets will be allocated to debt reduction ($73 million) and the new bus interchange ($8 million). Interest saved from retired debt will be allocated to economic development. This follows 44 percent of respondents from the City Scene questionnaire who expressed the view that more should be allocated to debt repayment.
Long term debt will now be $31 million in ten years (down from $45 million) in the 1998/1999 Plan.
For further information
Bob Lineham 371-1411
Director Finance
ends